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The Economic Times

Top News / The Economic Times

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US may remove sanctions on Iranian oil stranded in tankers, Bessent says

The landscape of oil supply may soon shift dramatically as the United States contemplates easing sanctions on Iranian oil trapped at sea. This could unlock access to an impressive 140 million barrels of crude, a move aimed at reducing soaring global prices. To supplement this effort, the US plans to draw from its strategic reserves.

20 Mar 2026 1:02 am